Retirement by age
Viewing age 55 benchmarks.
Explore other ages or compare your savings below.
Typical benchmark at age 55: 7× salary
Next checkpoint: age 60 (8× salary)
💡 Raising your rate by 10 points/yr may still miss the age-60 benchmark, but it could reach 107% of the age-70 benchmark.
IRS employee deferral limit for age 55: $32,500/yr
Benchmarks are general planning references, not absolute targets. Your ideal savings depends on your spending plans, other assets, and retirement timeline.
How your projected balance compares to the next benchmark checkpoints.
$861,940 below the benchmark on current path
You’re at 39% of the age-55 benchmark. The gap is $850K.
At your current pace, you may reach 52% of the age-60 benchmark.
Try modeling a 1% to 3% annual contribution increase to see how much of the age-60 gap you can close before making bigger changes.
Salary-based benchmarks use current salary. They may overstate the gap for people whose income rose sharply in recent years.
Run a complete projection with spending goals, inflation, and withdrawal modeling — pre-filled with your numbers.
Open 401k calculator with these inputs →Use this page as a directional benchmark, then move into the full calculator if you want to test the tradeoff between savings rate, retirement age, and spending goals.
Around age 55, many benchmark paths land near 7x salary as a checkpoint before age-60 readiness.
Full projection
Benchmarks answer whether you look roughly on pace. The calculator answers whether your plan may support your retirement lifestyle and spending target.
Open the full calculator →Next step guide
Use a focused guide if you want help deciding what to change after seeing this age checkpoint.
Read the related guide →7x salary by age 55 is a common planning checkpoint, not a guaranteed retirement target. It is most useful as a quick way to compare your current balance with a widely used milestone and decide whether your savings rate may need adjusting.
View the full benchmark planner →Being below a benchmark does not mean your plan has failed. It usually means your next move should be practical: capture full employer match, increase contributions gradually, and run a full projection to see how much a few realistic changes improve the long-term result.
Run the full calculator →Use this page for a quick checkpoint. Use the full calculator when you want a decision tool that includes retirement age, annual spending, employer match, and year-by-year projection details.
Open the full calculator →